Wilmington, Delaware, Sept. 12, 2023 (GLOBE NEWSWIRE) — Global Heart Failure Therapeutics Market was valued at US$ 6.7 billion in 2022 and is expected to grow at a significant CAGR of 9.1% over the forecast period of 2023-2030, according to the published market study by RationalStat
Market Definition, Market Scope, and Report Overview
Heart failure therapies are medical treatments and interventions that try to manage and improve the condition of people who have heart failure. Heart failure is a chronic circulatory disorder in which the heart is unable to properly pump blood to satisfy the needs of the body, resulting in a variety of symptoms and problems. It is a serious disorder that necessitates constant medical therapy in order to improve the patient’s quality of life and delay the disease’s progression.
Several factors drive the market for heart failure therapies, including the prevalence of heart failure, developments in medical research and technology, changing demographics, and the increased emphasis on healthcare. Ongoing cardiology and heart failure research has resulted in a better knowledge of the condition’s underlying mechanics. This has resulted in the development of novel medicines, drugs, and therapeutic techniques for controlling heart failure.
- According to a deep-dive market assessment by RationalStat, the global heart failure therapeutics market has been analyzed on the basis of market segments, including on type, distribution channel and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global heart failure therapeutics market covers market sizes on the basis of market value (US$/EUR Million) and Volume (Units), by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global heart failure therapeutics market. It also includes the industry’s current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Heart Failure Therapeutics Market: Segmental and Market Share Analysis
- On the basis of type, The ACE inhibitors segment led the market in 2022, accounting for more than 30% of total sales. This could be due to its efficacy as an individual treatment or the availability of approved combination therapies on the market.
- On the basis of distribution channel, the hospital pharmacies segment held the largest share of over 54% in 2021. As CHF disease medications are easily available in hospital pharmacies, it is anticipated to witness significant growth during the forecast period.
|Base Year Market Size||US$ 6.7 billion|
|Market Size Forecast||US$ 13.4 billion|
|Key Market Drivers||
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global heart failure therapeutics market include,
- In February 2023, CinCor Pharma Inc, a clinical-stage biopharmaceutical business situated in the United States, was bought by AstraZeneca. The acquisition adds baxdrostat (CIN-107) for blood pressure reduction in treatment-resistant hypertension to AstraZeneca’s cardiorenal pipeline.
- In November 2022, Johnson & John signed an agreement to acquire Abiomed. The partnership strengthened Johnson & Johnson MedTech’s (JJMT) position as a rising pioneer in cardiovascular innovation.
Some of the prominent players and suppliers operating and contributing significantly to the global heart failure therapeutics market growth include Bayer AG, Novartis AG, Merck & Co., Inc., AstraZeneca, Bristol-Myers Squibb Company, Amgen Inc., Boehringer Ingelheim International GmbH, Pfizer, Inc., Johnson & Johnson Services, Inc., and Otsuka Pharmaceutical Co., Ltd, among others.
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RationalStat has segmented the global heart failure therapeutics market based on type, distribution channel and region
- Global Heart Failure Therapeutics Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
- ACE Inhibitors
- Angiotensin 2 Receptor Blockers
- Beta Blockers
- Aldosterone Antagonists
- Global Heart Failure Therapeutics Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Global Heart Failure Therapeutics Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Heart Failure Therapeutics Market
- Latin America Heart Failure Therapeutics Market
- Rest of Latin America
- Western Europe Heart Failure Therapeutics Market
- Rest of Western Europe
- Eastern Europe Heart Failure Therapeutics Market
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Heart Failure Therapeutics Market
- South Korea
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Heart Failure Therapeutics Market
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Rest of the Middle East & Africa
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Key Questions Answered in the Heart Failure Therapeutics Report:
- What will be the market value of the global heart failure therapeutics market by 2030?
- What is the market size of the global heart failure therapeutics market?
- What are the market drivers of the global heart failure therapeutics market?
- What are the key trends in the global heart failure therapeutics market?
- Which is the leading region in the global heart failure therapeutics market?
- What are the major companies operating in the global heart failure therapeutics market?
- What are the market shares by key segments in the global heart failure therapeutics market?
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